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In my openion CS3 is one of the best tool for graphic design. On other hand there are many online free and paid tools are availables, which you can choose by sseing reviews and rating on them. I will suggest to choose any tool which suits you much better.

Well, it depends what kind of graphics are you designing such as Logos, brochures, banners or anything else. If your work is related to website designing, then personally I would recommend you to opt for the Creative Suite 6 Master Collection. The master collection consists of the following tools:

For vector work I always used to prefer Flash, because it's just so easy to do it in that (could never get my head around illustrator) but recently I've really got to like the vector tools in Photoshop (CC 2014), so I would say Photoshop hands down and the monthly subscription isn't too bad.